Ocean Harvest T Regulatory News (OHT)

28 Jan 2005 07:00

Orad Hi-Tec Systems28 January 2005 Orad reports on progress with the Horse Track project for the Hong Kong JockeyClub. Orad Hi-Tec Systems Limited (Symbol: OHT), world leader in virtual sets, on-airgraphics and sports production tools today reported on progress with the HorseTrack project for the Hong Kong Jockey Club. "Horse Track" is Orad's revolutionary system which, for the first time, enablesreal time tracking of competitors' positions during sports events. The firstimplementation of the project is with the Hong Kong Jockey Club at two of itsracecourses, where the system has been used at several meetings over aconsiderable period. The project entered its final acceptance testing in November 2004 with the aimof final handover of the system by the end of the year 2004. However, certaintechnical issues arose during the final acceptance test which requiredmodifications and the final handover of the system was therefore delayed. Currently, all known technical issues have been resolved and final acceptancetesting was resumed on 12 January 2005. The handover of the Horse Track System to the Hong Kong Jockey Club is due to becompleted in the first half of 2005. About ORAD Founded in 1993, Orad is a world leader in TV production technology and rapidlyincreasing its position in the Virtual Reality industry. Orad's lines ofproducts include virtual sets, on-air graphics systems, virtual advertising,sports production solutions and hardware for the Virtual Reality industry. Oradhas received extensive worldwide recognition for its systems at a wide-range ofevents including the 1999/2000 Emmy Award for the 'Implementation of Real TimeVirtual Imaging for Live Events on Television'. Orad is a publicly tradedcompany at the Prime Standard of the Frankfurter Wertpapierborse and AlternativeInvestment Market of the London Stock Exchange (symbol: OHT). www.orad.tv For further information contact: ORAD Hi-Tec Systems Ltd Avi Sharir, Israel 972 9 7676 862 Shore Capital Graham Shore, London, UK 44 20 7408 4090 Haubrok Investor Relations Michael Kempkes, Frankfurt, Germany 49 211 30126102 This information is provided by RNS The company news service from the London Stock Exchange